The Italian Sea Group could implement a €100 million capital increase as it continues its restructuring plan.
The company has been granted further protective measures from the Court of Florence for a four month period – the maximum duration allowed by law.
Under the new provisions, designed to allow the company to continue its operations and safeguard the progress of its ongoing projects, shipowners will not be allowed to terminate existing contracts due to any breach by the shipyard, nor will any guarantees be enforceable.
In addition, any guarantors will not be able to proceed with payment of any guarantees already enforced.
Suppliers
The Court has also ordered that suppliers essential to the orders nearing delivery will be temporarily released from their obligations to assign receivables to factoring companies.
As part of the company’s business plan, subject to the execution of binding agreements with suppliers, shipowners and financing institutions, TISG says it may consider, strengthing its capital base should market and broader economic conditions prove favourable.
This is expected to take place at the end of 2026 to the amount of around €100 million.
The latest Court ruling follows failed discussions with clients that made it impossible for TISG – which revealed it was facing financial difficulties in February 2026 – to progress its restructuring plan.
